The Agency for the Co-operation of Energy Regulators (ACER) has warned of the need to continue importing Russian liquefied natural gas (LNG) to avoid an energy shock. This was reported by the Financial Times.
ACER advises that measures to limit LNG imports from Russia to Europe “should be approached with caution”. It calls for “phasing it in gradually” because pipeline gas supplies could be reduced at the end of the year.
The agency is also concerned about the desire of some EU countries to temporarily restrict gas supplies from Russia and Belarus. These initiatives may harm long-term contracts, violation of which will result in heavy fines for European companies, the FT noted.
According to the published report, the EU finds it difficult to find a balance between energy security and the desire to inflict financial damage on Russia.
According to the newspaper, the global market is still in a tense state despite the fact that the EU has managed to replace Russian pipeline gas with LNG since the beginning of the armed conflict in Ukraine. Among other things, this is fuelled by the aggravation in the Middle East, the FT summarised.
Earlier, the deputy chairman of the Russian Security Council, Dmitriy Medvedev, “thanked” the EU for the growth of the Russian economy.
